KMC Properties ASA - Mandatory notification of trade and disclosure of large shareholding

EBE Eiendom AS, a large shareholder and close associate to Stig Wærnes, board member in KMC Properties ASA, announce intra-group restructuring of ownership and consequently reports notification of trades and disclosure of large shareholding. Oslo Børs has granted an exemption from the mandatory bid obligation pursuant to section 6-2 (3) of the Norwegian Securities Trading Act, based on the consideration that the intra-group reorganization of ownership in KMC Properties does not involve a change of control or is part of a chain of transactions that may constitute a change of control. On 19 November 2021, Kastor Invest AS, owner of 50% of the shares in EBE Eiendom, has transferred all its shares in EBE Eiendom AS to KMC Family AS by way of dividend distribution. Furthermore, Frøya Invest AS and EBE Eiendom AS have on 19 November 2021 entered separate agreements with KMC Family AS to merge, whereas KMC Family AS is the surviving entity. Following completion of the merger, KMC Family AS, a company controlled by Bekken Invest AS and Kastor Invest Holding AS, and a close associate to Stig Wærnes, will own 116 466 891 shares and votes in KMC Properties ASA directly, equal to 41.43% of the shares and votes in KMC Properties ASA. In addition, BEWI ASA, a company owned indirectly 62.35% by KMC Family AS, owns 3.05% of the shares in KMC Properties ASA. As a result, KMC Family AS will directly and indirectly control 125 038 319 shares and votes in KMC Properties ASA, equal to 44.48%. The shares will be deemed transferred at the closing price of the shares of KMC Properties ASA on 19 November 2021. Following completion of the merger, EBE Eiendom AS will no longer hold any shares in KMC Properties ASA. Please see the attached notification in accordance with MAR article 19.